Safarl File Edit View History Bookmarks Chapter 7 Assignment 6 Use the table to

Question

Safarl File Edit View History Bookmarks Chapter 7 Assignment 6 Use the table to answer six questions To produce 15 pairs of jeans Resource Input Unit Price of Input Total Cost factory 1 sewing machine 30 per day t operator 15 bolts of denim 3.12 points $200 per day $200 30 70 30 70 per day 20 per bol Pent denim Instructions: In order to receive full credit, you must make a selection for each option. For correct answ place a check mark. For incorrect answerls), click the option twice to empty the box. a. Which two inputs are most likely to be fixed in the short run? Bolts of denim D Factory Operator Sewing machine b. Which two inputs are most likely to be variable in the short run? Prev 1 o Next

Explanation / Answer

a. Factory and Sewing machine.
(In the short run, the only variable factor is labor while all other factors are fixed. So, the amount of factory and sewing machine will be very difficult to vary in the short run and thus in the short run, two most likely fixed factors are factory and sewing machines.)

b. Bolts of denim and operator
(Bolts of denim is the raw material which can be varied in the short run and labor which is the operator here can also be varied the short run. So, operator and bolts of denim are two most likely variable factors in the short run)

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